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Current as of January 01, 2026 | Updated by Findlaw Staff
(a) A call of a special meeting of beneficial owners of the statutory trust is not required to be made under § 3885(a) of this title unless, at the time of delivery of an acquiring person statement under § 3884 of this title, the acquiring person has:
(1) Entered into a definitive financing agreement or agreements with 1 or more responsible financial institutions or other entities that have the necessary financial capacity, providing for any amount of financing of the control beneficial interest acquisition not to be provided by the acquiring person; and
(2) Delivered a copy of the agreements to the statutory trust.
(b) A call of a special meeting of beneficial owners of the statutory trust is not required to be made under § 3885(a) of this title if the acquiring person making such request (or an associate of such person) has in the 3-year period preceding such request made a request to have the issue of the voting rights to be accorded the beneficial interests acquired in a control beneficial interest acquisition presented for consideration at a meeting of beneficial owners where the beneficial owners have not approved such acquisition under § 3885 of this title.
Cite this article: FindLaw.com - Delaware Code Title 12. Decedents' Estates and Fiduciary Relations § 3886. Special meeting requirements; limitations - last updated January 01, 2026 | https://codes.findlaw.com/de/title-12-decedents-estates-and-fiduciary-relations/de-code-sect-12-3886/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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